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Crypto

Why \'digital dollars\' feel awkward: Schwartz points to stablecoin structural problems

David Schwartz, a core designer of the XRP Ledger and former Ripple CTO, said he misjudged early on how digital dollars would be used in the stablecoin industry. He said developers expected all dollar-pegged stablecoins to share the same USD currency code, leaving wallets to display issuer information. Instead, fragmented DeFi markets produced multiple dollar tokens, forcing users to distinguish tickers such as USDT, USDC and RLUSD and undermining familiar payment experiences.

Crypto

Standard Chartered sets SKY token target at $0.325, sees fivefold rise by end-2028

Standard Chartered forecast Sky’s governance token SKY could rise about fivefold to $0.325 by the end of 2028. The bank’s research note set a base price of $0.065 and provided annual targets through 2028, citing expansion of the Sky ecosystem and growth in USDS issuance. It also highlighted agent-based borrowing, stablecoin supply trends and value transfer to holders via staking rewards and buybacks, while noting risks if growth slows.

Crypto

U.S. September rate hike odds at 55.5 percent; bitcoin holds $78,000 level

Odds of a U.S. Federal Reserve rate increase in September overtook expectations for a hold, with Polymarket pricing a 0.25 percentage point hike at 55.5 percent. Treasury yields rose and broader markets reacted, while bitcoin held the $78,000 range and ether stayed above $2,470. Investors are watching U.S. inflation and jobs signals ahead of the Aug. CPI report due Sept. 11 and the Sept. FOMC meeting.